New tax law threatens potential buyers of houses in Westchester, which for a long time was a refuge area for families trying to get away from high costs of New York City, Bloomberg reports.

Sales in the region that has the highest property taxes in the US fell in the second quarter by 18% compared to last year. This is the biggest fall since 2011. Sales have been declining four quarters in a row.

Buyers are not in a hurry to buy home in Westchester, since they are concerned that they will not be able to write off high property taxes. Federal rules approved in December set $10000 limit on state and local taxes deducts. It is much lower than average $17179 that residents of Westchester paid in taxes last year.

However, even before changes in tax law, years of growing prices made houses in region less affordable to buyers. Average home price sold in the second quarter grew by 5% compared to last year to $525000.

The biggest drop is observed in the sector with price range between $1,5 million to $1,99 million.